Industry News

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Briefly: “Policies will work: BOC” and more news

Given the rapid onset of what is being hailed as the worst recession since the Great Depression, it’s easy to understand why Canadians may have lost faith in the financial system. But the policy measures the central banks have taken will restore confidence, according to the Bank of Canada’s governor. “There is a plan to […]

By Staff |April 2, 2009

4 min read

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Fund sales drop after RSP rush

The mutual fund industry may have seen only tepid sales in March, according to the Investment Funds Institute of Canada, which estimates net sales may have been as low as $168 million. The high end of the estimate sounds somewhat more respectable, however, at $668 million. Mutual funds investors had socked away $1.7 billion in […]

By Steven Lamb |April 2, 2009

3 min read

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Friday’s Close: Blythe on blogs, fund facts and must-read news

Friday’s Close is a new initiative to bring you something a little different — Scot Blythe presents his weekly round-up of the buzz on financial blogs, we bring you letters to the editor (send yours to editor@advisor.ca), must-read articles, quotes of the week and occasionally a funny or useful story to help you beat the […]

By Staff |April 2, 2009

2 min read

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BMO completes AIG deal, scraps AIG brand

In an all-cash deal estimated at $329.5 million CDN, BMO Financial Group said today that it has officially purchased AIG Life Insurance Company of Canada (AIG Life of Canada). The deal was first announced in mid January. Effective today, AIG Life of Canada, the former Canadian subsidiary, of the beleaguered U.S. insurance giant, becomes BMO […]

By Staff |April 1, 2009

1 min read

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Practice values and the downturn

Business valuation is a topic that’s definitely gone by the wayside in recent months for a lot of advisors. At the height of the last boom — and even as late as summer 2008 — succession planning was a relatively hot topic in advisory circles. Firms were actively creating and managing transition programs and many […]

By Kate McCaffery |April 1, 2009

4 min read

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Agents of change

I recently celebrated my 10th anniversary here at Advisor Group and, with that, reflected and reminisced with colleagues about the past decade. More has changed than not. But here’s one thing that hasn’t: when I attend industry conferences, I can still count on two hands the number of women advisors in the audience. Yes, this […]

By Deanne Gage |April 1, 2009

3 min read

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Briefly: “Self-employed Canadians not managing risk: Desjardins” and more news

According to a survey conducted by Desjardins Financial Security, self-employed Canadians tend to have more debt and risk to manage than the average Canadian employee. According to the survey, 85% of Canadians carry a debt load of $25,000 or less, and only 5% have debts over $50,000. At the same time, just over half of […]

By Staff |April 1, 2009

3 min read

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Risk management key to surviving downturn: Report

Managing risk is essential to the survival of asset management firms, according to a new report by Ernst & Young. The report points out the specific risks asset managers must recognize and overcome to position themselves for long-term success. The report says the current market crisis is by far the most immediate and dangerous threat […]

By Mark Noble |March 31, 2009

4 min read

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Briefly: “FEI Canada calls for increased credit to businesses” and more news

The government must play a more active role in increasing the credit available for Canadian businesses, according to Tuesday’s testimony by the Financial Executives International (FEI) Canada before the House of Commons Standing Committee on Finance. “Greater access to long-term credit financing, particularly for small-to-medium businesses, in addition to increasing inter-provincial trade efficiency and establishing […]

By Staff |March 31, 2009

3 min read

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Niche products provide opportunity

As your client’s focus shifts from growing wealth to preserving it, there’s opportunity for insurance planning. And one area that may provide value-added prospects for advisors is the insurance product geared toward niche markets. There are sales to be made in this market right now, but clients most likely want to see immediate value for […]

By Mark Noble |March 30, 2009

4 min read

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